Summer sales heat up the Breal real estate market!
Finding a Brea home for sale today appears to be more difficult now, we're seeing an almost 40% decrease in 
inventory for existing single family homes for sale (from two months ago) in the City of Brea, while the number of sales were up the same amount, almost 40% higher from last month.
Brea, CA Real Estate Sales Report ~ Brea home sales heat up this summer in Orange County.
Brea Single Family Homes for July 2009:
- 56 re-sale homes were for sale, compared to 67 last month and 81 two months ago, 65/94/ respectively for the past few months.
- 33 pending sales & back-ups, up dramatically 20 last month, and 23/18/ 25/12/20/16/36/30/27/ prior months.
- 22 homes closed in July up from 15 last month & compared to 24/29/12/13/20/11/28/30/24/20/14/21 respectively in the prior 12 months.
- Average selling price for July was $570,000 (compared to $482,668 last month) for a home with an average of 2238 square feet.
- The average days on the market for July was 38, down from 53 days in June and almost 1/2 of days on the market of 70 for May.
- Of the 22 single family home, only 1 appears to be a bank/owned foreclosure, yet 4 out of the 22 were identified as short-sales or pre-foreclosure.
Brea Condo Sales Activity for July 2009:
- Only 10 Brea condo/town-homes were for sale, exactly the same as last month and compared to 14/16/14/6/12/9/13 in the past few months.
- 4 pending sales/back-ups went into escrow the same as last month compared to 6/3/3/1/4/3/1/5/7/2/1/1/ in prior months.
- 6 condos closed escrow in July compared to 2/1/2/6/0/5/3/4/2/5/4/2/2/0 respectively in preceding months.
- 2 out of 6 closings were indentified as floreclosures, with 1 short sale.
Comparing Brea home sales year-to- date 2008 vs. 2009.
- 2008 ~ 152 Closed Brea sales $520,235 Average Sales Price, $298.15 Sq. Ft., 85 days on the market, $293.68 price per square foot.
- 2009 ~ 166 Closed Brea sales Closed, $527,785 average sales price, $262.36 Sq. Ft., 73d ays on market, $259.09 price per square foot.
Check out Southern Cal home prices per square foot to see how prices vary depending on your city.
Brea is a City is well known for excellence in education. The schools have been definite attraction for residents in our community. We often say Brea enjoys some of the bigger city benefits, yet maintains a small town feeling. Many of us who live here feel we have the best of both worlds.
Brea, CA is very well located in Northern Orange County ~
If you lived in Brea-California you would be approximately:
- 30 Miles east of downtown Los Angeles.
- 39 Miles west of LAX ~ Los Angeles International Airport,
- 16 Miles north/west of John Wayne Airport in Santa Ana, CA
- 10 Miles north of Disneyland the "Happiest Place on Earth" ~ Anaheim, CA.
If you're interested in learning more about Brea see why Sunset Magazine named it one of the best places in the west, or check out Living In Dowtown Brea, or Downtown Brea Nights, Visit Brea Family Fun, 
Brea's Curtis Theatre or Downtown Brea Dining. Here's more on the new Sports Park, check it out. Looking for low/no cost fun in our city, read Brea Fun On A Budget.
For real estate, contact me, Lynda@PreferredHomeBrokers.com, we're one of the longest established independent brokerages in Orange County under the same ownership, check us out Preferred Home Brokers. To reach me: Lynda@PreferredHomeBrokers.com, text or direct (714) 595-1494.
* A distressed sale is identified in the So Cal Multiple Listing Service as a property that is either, bank-owned, a short sale, in foreclosure, or a notice of default has been filed among other things. . Not all listing agents properly identify the status with accuracy, that's why I indicated a "minimum" of these sales have been identified this way.
~CA Real Estate License #402040
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